EXHIBIT 23.1 ACCOUNTANTS' CONSENT AND REPORT ON SCHEDULE The Board of Directors and Shareholders Metra Biosystems, Inc.: The audits referred to in our report dated July 18, 1996, included the related financial statement schedule as of June 30, 1996, 1995 and June 30, 1994, and for each of the years in the three-year period ended June 30, 1996 included in the registration statement. This financial statement schedule is the responsibility of the Company's management. Our responsibility is to express an opinion on this financial statement schedule based on our audits. In our opinion, such financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly in all material respects the information set forth therein. We consent to incorporation by reference in the registration statement on Form S-8 of Metra Biosystems, Inc. of our report dated July 18, 1996, relating to the consolidated balance sheets of Metra Biosystems, Inc. and subsidiaries as of June 30, 1996 and 1995 and the related consolidated statements of operations, shareholders' equity (deficit) and cash flows for each of the years in the three-year period ended June 30, 1996, which report appears in the June 30, 1996 annual report on Form 10-K of Metra Biosystems, Inc. Our report refers to a change in accounting for investments effective July 1, 1994. KPMG Peat Marwick LLP San Francisco, California September 27, 1996